My fiance and I are planning to acquire a property in Balham and are in fact using a Balham conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Birmingham Midshires have this morning contacted us to advise us that there is now an issue as our Balham lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Balham lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are a couple about to sign contracts for a ground floor flat in Balham. We have hit a problem. Our loan offer with Halifax runs out on 9/9/2026 but the owners are putting forward a completion date of 11/9/2026. Can one extend the loan expiry date?
The person best placed to deal with your concern is your conveyancer who will determine whether he or she is should be discussing with the mortgage company, seller’s representatives, selling agents or indeed all three taking into account the history of your transaction as of today.
I am buying a semi-detached house in Balham. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Balham you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Balham.
How can we tell if a Balham conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Balham obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor conducting your conveyancing.
I am currently in the process of buying my council flat in Balham. I have a mortgage offer with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I can not fathom if my lender requires a lease extension. I have telephoned my Balham bank branch on a couple of occasions and was reassured it wasn't an issue and they will lend. My Balham conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancer must follow the Council of Mortgage Lenders’ Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am purchasing my first flat in Balham with a mortgage from Virgin Money. The developers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not reveal to my solicitor about the extras as it will impact my loan with Virgin Money. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey completed on a property in Balham prior to instructing solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks tend refuse to give a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Balham. Conveyancing may be slightly more expensive based on your lender's requirements.